Abu Dhabi:The United Arab Emirates took part in the 126th meeting of the Gulf Cooperation Council (GCC) Financial and Economic Cooperation Committee held in Bahrain.
According to Emirates News Agency, the UAE delegation was led by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs. The delegation included key officials such as Ahmed Abdullah bin Lahej Al Falasi, Acting Director General of Customs and Ports Security, Abdulaziz Mohammed Al Mulla, Director General of the Federal Tax Authority, and Ali Abdullah Sharafi, Assistant Undersecretary for International Financial Relations at the Ministry of Finance.
Key topics addressed during the meeting included advancing financial and economic integration across the GCC, enhancing the GCC Common Market's efficiency, and strengthening legislative and regulatory frameworks to facilitate trade and investment. Discussions also focused on initiatives to boost Gulf economic unity, competitiveness, and the ability of GCC states to adapt to global economic changes.
The meeting provided an opportunity to review progress in financial, tax, and customs cooperation and to explore future steps to deepen integration and achieve greater economic benefits for member states and their citizens.
The UAE's involvement underscores its commitment to advancing Gulf economic integration and reinforcing its role within the GCC Common Market. Mohamed bin Hadi Al Hussaini emphasized the importance of continued progress in developing common frameworks to translate cooperation outcomes into initiatives that deliver tangible results, fostering trade, investment, and economic diversification across the GCC.
Additionally, the meeting reviewed outcomes from several GCC committees, including the GCC Central Bank Governors Committee and the GCC Customs Union Authority. Discussions also covered updates on free trade agreement negotiations and progress toward linking payment systems across GCC states, along with taxation decisions and economic unity efforts.